Tag: finance

Union Finance unveils permissionless credit protocol at ETHBarcelona

Jacob Shiach, CEO of Union Finance, introduced Union Finance’s permissionless credit protocol, which aims to facilitate decentralized lending by leveraging trust and coordination among individuals, DAOs, and contracts. Shiach presented a speech on uncollateralized lending and leveraging friendships for fun and profit at the ETHBarcelona conference. During the conference, Shiach discussed various aspects of credit and its role in financial and real economies. He emphasized the importance of time travel, scalability, technology, and lifeline credit in driving economic growth and making more efficient decisions. He also highlighted the complexities of…

DeFi ‘circuit breaker’ could slash hack losses by 70%: Finance Redefined

boss

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. Amid the growing number of hacks in the DeFi ecosystem, a smart contract developer has made a new Ethereum request for comment (ERC) proposal to introduce a circuit breaker that could cut losses from hacks by 70%. In another exploit scare, Some Multichain contracts on Ethereum suffered withdrawals of more than half of their deposits, causing on-chain sleuths to fear an exploit…

Pendle Finance Expands to BNB Chain

Pendle offers users yields in the form of tradable digital tokens, with some strategies offering as much as 82% annualized yields on ether (ETH) and ether derivative tokens. These have a maturity period that ends in late 2023 or early 2024. LSDs are tokens created by DeFi protocols, such as Lido, to reward users who stake ETH on their platform. Source

Chibi Finance $1M alleged rug pull: How it happened

boss

On June 26, decentralized finance (DeFi) aggregator Chibi Finance was exploited by its own deployer account, and $1 million worth of cryptocurrency was drained from its contracts in an apparent rug pull or exit scam. The protocol’s official user interface disappeared, producing a 404 error, and all social media for the app was taken down. After the funds were drained, they were swapped for Wrapped Ether (WETH) and bridged to Ethereum, where they were afterward sent to Tornado Cash by the attacker. The price of the Chibi Finance (CHIBI) governance…

Over $204M lost to DeFi hacks and scams in Q2: Finance Redefined

boss

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The second quarter of 2023 saw over $208 million exploited and hacked from DeFi protocols, and with just $4.5 million of funds recovered, total losses to exploits were over $204 million. The DeFi ecosystem is an ever-growing industry with billions of dollars in daily trading volume. Still, it remains niche to a small population in the crypto industry and out of reach…

Compound Founder’s New Venture Superstate To Bridge Traditional and Blockchain Finance

Compound’s Founder and CEO, Robert Leshner, has announced the launch of a new venture, Superstate (@superstatefunds). “Superstate’s mission is to create regulated financial products that bridge traditional markets & blockchain ecosystems,” said Leshner, signaling a significant shift in the financial industry. “Currently, the primary limiting factor to DeFi is that crypto-native assets are the only interoperable assets,” Leshner stated, reflecting on the challenges facing the decentralized finance (DeFi) sector. However, Leshner sees a future where “hundreds of trillions of ‘offline’ assets will find their way onto blockchains,” with Superstate spearheading…

Maple Finance announces direct lending to fill the void left by BlockFi, Celsius

boss

Web3 lending platform Maple Finance has announced the launch of a direct lending program, according to a June 28 fact sheet from the platform’s development team. The program is intended to replace services previously provided by Celsius, BlockFi and other now-bankrupt lenders. The first lending pool will be available sometime in July, the company stated. Introducing Maple Direct, the new lending arm of Maple Finance. With the formation of Maple Direct, Web3 now has a specialist digital native lender and launches to meet the growing institutional demand for a trusted…

Berlin: The Center for Decentralized Finance – and Techno Music

When the tech hub of Europe meets a society that prizes financial autonomy, the result is a crypto community that practices the very decentralization it preaches. Case in point: Blockchain Week Berlin, the flagship annual conference of the No. 10 spot in CoinDesk’s Crypto Hubs 2023, is a self-organized, crypto-agnostic community initiative. Source